The 5th Circuit Court of Appeals has reinstated the Corporate Transparency Act (CTA), requiring LLCs and businesses formed before January 1, 2024, to file their Beneficial Ownership Information Report (BOIR) by January 13, 2025.
Why It Matters
Failing to comply could lead to penalties of up to $500 per day—or even jail time.
What Is the Corporate Transparency Act?
This federal law was enacted to combat money laundering, fraud, and other financial crimes. It requires most businesses and LLCs to file detailed information about their owners and individuals with control over the entity.
Who Needs to File?
Most corporations, LLCs, and other registered entities formed before January 1, 2024, must file, unless exempt. Exemptions are limited, so most businesses will need to comply.
Next Steps
Silverman Law Office is here to help you meet compliance requirements and avoid costly penalties.
Contact Us Today
Call 406-449-4829 or visit mttaxlaw.com/contact for professional assistance with your filing.
